The governor has announced that because property taxes did not exceed a target amount by an appropriate number of dollars, $100 million in extra state funding to be split 50-50 between UC and CSU will not be paid out. Now you may ask what local property taxes have to do with the state budget for UC. Under Prop 98, formulas determine funding from the state for K-14. However, local property taxes which go to schools are factored in. So if there are more property tax dollars, the cost to the state treasury is reduced.
As part of an earlier budget deal, a contingency was inserted into the state budget based on property taxes which might have benefited UC (but now won't). According to a news account, the legislature might (that's "might," which differs from "will") provide the money anyway. Whether the governor would go along in that event is uncertain.
More details at
http://www.sacbee.com/2014/07/16/6561376/brown-property-taxes-not-high.html
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